Interesting topic Alan. Until they started rating rods on how heavy a jig they could cast, the agreed interpretation of the rod's rating was, to my understanding, 3 x it's lifting capacity when held at a 45 degree angle with a line through the guides and a weight hanging vertically below the top eye. Max lift is when either the line touches the blank between any 2 guides (common) or the blank locks up & won't bend any further (uncommon, but I have broken 2 rods this way. Better than doing it on a fish I guess.) Not sure how you would test spin rods with the line guides under the blank.
Frustrated with a couple of purchases, I started checking my existing rods (that's how I broke a couple) and insisting on checking new rods before purchase. Under-rating was rare, but I found many cheaper rods were over rated, and even a few expensive name-brand rods had poorly positioned line guides allowing an earlier touch down than they should.
There are many I've never tested or used, but the only brand that has never failed the test is Offshore Rods (3 rods) all bought back when Leon ran the show - he even did the test on one of them for me himself. Not cheap but worth a look if you're in the market.